Insurance and financial services (% of commercial service exports) in Tanzania
Tanzania: Insurance and financial services (% of commercial service exports) was 0.9% in 2024. ◆ Volatile
Insurance and financial services in Tanzania, 1976–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service exports.
Analysis
The most recent figure for insurance and financial services in Tanzania is 0.9%, measured in 2024.
That represents a change of up 4.7% on the previous year and down 47.1% over ten years.
Over the whole period, insurance and financial services in Tanzania peaked at 4.1% in 1998 and was at its lowest, 0.0%, in 1995.
That places Tanzania 148th out of 190 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services (% of commercial service exports) in Tanzania, year by year
| Year | % of commercial service exports | Change |
|---|---|---|
| 1976 | 3.5% | — |
| 1977 | 2.6% | -24.6% |
| 1978 | 1.4% | -45.6% |
| 1979 | 1.2% | -18.5% |
| 1980 | 1.5% | +29.1% |
| 1981 | 0.8% | -46.5% |
| 1982 | 1.3% | +59.1% |
| 1983 | 1.6% | +24.4% |
| 1984 | 0.2% | -86.5% |
| 1985 | 0.1% | -54.9% |
| 1986 | 0.2% | +105.4% |
| 1987 | 0.1% | -67.6% |
| 1988 | 0.6% | +883.3% |
| 1989 | 0.5% | -18.1% |
| 1990 | 0.5% | -0.3% |
| 1993 | 0.2% | -57.7% |
| 1994 | 0.2% | -13.8% |
| 1995 | 0.0% | -95.3% |
| 1996 | 3.1% | +34728.5% |
| 1997 | 2.9% | -6.0% |
| 1998 | 4.1% | +40.2% |
| 1999 | 1.9% | -54.5% |
| 2000 | 3.0% | +58.9% |
| 2001 | 2.3% | -23.2% |
| 2002 | 2.7% | +20.5% |
| 2003 | 2.7% | -2.8% |
| 2004 | 2.6% | -2.1% |
| 2005 | 3.3% | +26.3% |
| 2006 | 1.1% | -67.5% |
| 2007 | 1.5% | +40.1% |
| 2008 | 1.2% | -16.9% |
| 2009 | 1.2% | -4.2% |
| 2010 | 1.8% | +55.0% |
| 2011 | 1.5% | -18.7% |
| 2012 | 1.8% | +19.7% |
| 2013 | 2.0% | +14.2% |
| 2014 | 1.8% | -13.3% |
| 2015 | 1.8% | -0.9% |
| 2016 | 1.8% | +4.7% |
| 2017 | 1.7% | -9.4% |
| 2018 | 1.3% | -24.7% |
| 2019 | 1.4% | +15.3% |
| 2020 | 1.4% | -0.9% |
| 2021 | 0.4% | -71.5% |
| 2022 | 0.3% | -16.8% |
| 2023 | 0.9% | +163.1% |
| 2024 | 0.9% | +4.7% |
Tanzania compared with similar countries
- Tanzania's 0.9% is below the median for lower middle income countries, which is 2.4%, 39% of the median. (46 countries reporting)
- Tanzania's 0.9% is below the median for Sub-Saharan Africa, which is 3.9%, 24% of the median. (45 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services (% of commercial service exports) in Tanzania changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1996 | +34728.5% | 0.0% | 3.1% |
| 1988 | +883.3% | 0.1% | 0.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 2.2% | 1.2% | 3.5% | 4 |
| 1980s | 0.7% | 0.1% | 1.6% | 10 |
| 1990s | 1.6% | 0.0% | 4.1% | 8 |
| 2000s | 2.1% | 1.1% | 3.3% | 10 |
| 2010s | 1.7% | 1.3% | 2.0% | 10 |
| 2020s | 0.8% | 0.3% | 1.4% | 5 |
Countries ranked near Tanzania
- 145 French Polynesia 1.0% compare
- 146 Belarus 1.0% compare
- 147 Sri Lanka 1.0% compare
- 149 Solomon Islands 0.9% compare
- 150 Nicaragua 0.9% compare
- 151 Faroe Islands 0.8% compare
More private sector data for Tanzania
- Merchandise trade 27.5% (2025)
- Food imports 8.2% (2025)
- Manufactures imports 73.7% (2025)
- Merchandise imports 14.81 billion current US$ (2025)
- Commercial service imports 2.70 billion current US$ (2024)
- Food exports 31.0% (2025)
- Manufactures exports 11.4% (2025)
- Merchandise exports 9.96 billion current US$ (2025)
- Commercial service exports 6.80 billion current US$ (2024)
- Merchandise exports (current US$), per capita 141.13 current US$ per person (2025)
Frequently asked questions
- What is insurance and financial services in Tanzania?
- Insurance and financial services in Tanzania was 0.9% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Tanzania?
- The highest recorded value was 4.1% in 1998.
- What is the lowest insurance and financial services recorded in Tanzania?
- The lowest recorded value was 0.0% in 1995.
- How does Tanzania rank for insurance and financial services?
- Tanzania ranks 148th out of 190 countries with data for 2024.
- Is insurance and financial services rising or falling in Tanzania?
- Over the last ten years it is down 47.1%. The long-run trend across the full record is volatile.
- Where does this Tanzania data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Insurance and financial services (% of commercial service exports). Statizoid updates them automatically from the source API.
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About this data
Financial services covers services related to financial intermediation, financial risk management, liquidity transformation or auxiliary financial activities. It also includes insurance and pension scheme services which are services related to providing life insurance and annuities, non-life insurance, reinsurance, pensions, standardised guarantees and auxiliary services to insurance, pension schemes, and standardised guarantee schemes. This indicator is expressed as a percentage of service exports which are commercial services provided by residents to non-residents.